BALTIMORE, April 23, 2015 /PRNewswire/ -- MMA Capital Management, LLC (NASDAQ: MMAC) ("MMA Capital Management" or the "Company"), a Delaware limited liability company, today announced that its subsidiary, MMA Energy Capital, LLC ("MMA Energy Capital"), has closed a construction loan with Solar Liberty ("Solar Liberty") to finance the construction of nine solar projects located throughout New York City.
"Solar continues its considerable growth in the state of New York, and the increased adoption of solar power in public buildings demonstrates the forward thinking of electricity customers in New York City," Bob Hopper, Managing Director of MMA Energy Capital stated.
"Solar Liberty continues its ongoing growth in the New York metropolitan area and we are thrilled to be constructing this group of projects," said Adam Rizzo, President of Solar Liberty.
MMA Energy Capital provides custom solutions around construction debt and development capital for renewable energy projects that enable its customers to effectively develop and build world class projects through access to efficiently placed capital.
Founded in 2003, Solar Liberty installs grid-tied photovoltaic solar energy systems for government, nonprofit, education, commercial, and residential customers. Since then, the company installed solar panels systems for scores of New York state businesses, schools, municipal buildings, non-profits and homeowners. In 2012 NYSERDA and the Department of Energy awarded the "Outstanding Achievement Award" to Solar Liberty for being the Largest Solar Electric Installer in New York State.
Cautionary Statement Regarding Forward-Looking Statements
This Release contains forward-looking statements intended to qualify for the safe harbor contained in Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as "may," "will," "should," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "seek," "would," "could," and similar words or are made in connection with discussions of future operating or financial performance.
Forward-looking statements reflect our management's expectations at the date of this Release regarding future conditions, events or results. They are not guarantees of future performance. By their nature, forward-looking statements are subject to risks and uncertainties. Our actual results and financial condition may differ materially from what is anticipated in the forward-looking statements. There are many factors that could cause actual conditions, events or results to differ from those anticipated by the forward-looking statements contained in this Release. These factors include changes in market conditions that affect the willingness of potential investors or lenders to provide us with debt or equity, changes in market conditions that affect the value or marketability of assets we own, changes in market conditions or other factors that affect our access to cash that we may need to meet our commitments to other persons, changes in interest rates or other conditions that affect the value of mortgage loans we have made, changes in interest rates that affect our cost of funds, tax laws, environmental laws or other conditions that affect the value of the real estate underlying mortgage loans we own, and changes in tax laws or other things beyond our control that affect the tax benefits available to us and our investors. Readers are cautioned not to place undue reliance on forward-looking statements. We have not undertaken to update any forward-looking statements in this Release.
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SOURCE MMA Capital Management, LLC